This week on my podcast I explore my current duplex listing and our intentional underpricing to let the market efficiently determine the highest and best price. In light of this podcast episode, I am going to focus this week’s blog post on efficient market examples using two recent closings to demonstrate my point. Additionally, I am going to share another recent sale to highlight an old blog post on the Los Verdes submarket of Rancho Palos Verdes. Intentional Underpricing & Efficiency If you listened to the podcast episode, I discuss intentionally underpricing a duplex in the expectation that it would create a fervor, multiple offers, and eventually sell for market price – or even an above
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Month: March 2023
This week I thought it would be nice to throw out a little write-up on little-known benefits of our South Bay cities for people considering a move to the South Bay. If you live in one of these cities, it might be a “duh – we all know that, Richard,” but it is hard to know some of each city’s hidden benefits without living there. Further, you never know when you might consider moving to a nearby city in the South Bay, so I bet you might learn something in the process! Give below a read. If you have been following my Instagram, then you know I have loved sharing “Hidden Gems” of the South Bay
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The South Bay home market has been nothing less than incredible since early 2020. Some might even consider it volatile from a sales collapse during the early days of Covid-19 to the insane run up thanks to low interest rates, and now to uncertainty around the market with sky-high rates and bank failures. It can be debated on how one would classify the South Bay market as a whole, but when it comes to property on The Strand, it is always a wild ride. Manhattan and Hermosa Beach’s Strand almost always sees property value swings thanks to just a few buyers driving the market at any one time. There are very small windows to “steal” a
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The South Bay home market continues to work through the post-pandemic real estate environment with historically low inventory amidst generationally high mortgage rates. While certain submarkets displayed weakening prices in the second half of 2022, the historically low inventory squeeze might be pushing buyers to pay sky-high prices as 2023 matures. I can say from my buyers’ perspective, they are disappointed with home options and new listings to kick off the year. And that feeling is valid thanks to home listings being few and far between historically, however, trends suggest that February is low on listings and we can expect more homes in March, April and May. For this week’s post, I am going to take
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In a home market like California where affordability is at its second-lowest level in 15 years, you know that the South Bay is going to be even more expensive. Currently, the median home price across the state is $671,520. So if you can find a single-family home in the Beach Cities or Palos Verdes Peninsula for under $1 million, then for many, that feels like a huge score. It may seem impossible to find a home in that price range, but they do exist. I am going to share a submarket that still can deliver homes under $1 million, and then run some comparable sales to see if the investment might make sense for you. Redondo
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